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You would like to buy a quarterly compounding 14 -year, $1,000 par value bond. The annual coupon rate on this bond is 9 percent. If

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You would like to buy a quarterly compounding 14 -year, $1,000 par value bond. The annual coupon rate on this bond is 9 percent. If the current yield to maturity of the bond is a 11 percent, what is the value of this bond? After one year, would it be higher or lower than the current value of the bond? \$1,101; Higher $822; Higher $1,152; Higher $1,158; Lower $859; Higher

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